Dear Friends,
Govt. of India through the payment of bonus (amendment) bill-2010 (15 of 2010) published in Gazette of India, proposes the following amendments :
1. To increase minimum bonus limit from 8.33% to 11%
2. To increase the wage ceiling of coverable employee from 10000/- to 15000/- per month.
3. To enhance the calculation of bonus from Rs. 3500/- to 5000/- per month.
At present the above proposals are in the shape of bill only.
regds.
anil kaushik
chief editor,BUSINESS MANAGER
B-138,Ambedkar Nagar,alwar-301001 (raj) india
Landline;0144-2372022
Mob;09829133699
YOUR TODAYS PROBLEMS ARE YESTERDAYS WRONG DECISIONS
From India, Delhi
181Govt. of India through the payment of bonus (amendment) bill-2010 (15 of 2010) published in Gazette of India, proposes the following amendments :
1. To increase minimum bonus limit from 8.33% to 11%
2. To increase the wage ceiling of coverable employee from 10000/- to 15000/- per month.
3. To enhance the calculation of bonus from Rs. 3500/- to 5000/- per month.
At present the above proposals are in the shape of bill only.
regds.
anil kaushik
chief editor,BUSINESS MANAGER
B-138,Ambedkar Nagar,alwar-301001 (raj) india
Landline;0144-2372022
Mob;09829133699
YOUR TODAYS PROBLEMS ARE YESTERDAYS WRONG DECISIONS
From India, Delhi
Please reply on the following queries:
1. minimum bonus limit is 8.33%. It is calculated on basic wage or gross wage.
2. To enhance the calculation of bonus from Rs. 3500/- to 5000/- per month. please clarify on this.
From India, Moradabad
1. minimum bonus limit is 8.33%. It is calculated on basic wage or gross wage.
2. To enhance the calculation of bonus from Rs. 3500/- to 5000/- per month. please clarify on this.
From India, Moradabad
Dear Member,
1. Plz go through section 2(21) of the Payment of Bonus Act, 1961 for the definition of the wage or salary. In general we are to consider Basic & DA but where an employee is also given in lieu of the whole or part of salary or wage payable to him, free food allowance or free food by the employer, such food allowance or the value of such food, for the purposes of this clause, be deemed to form part of salary or wage of such employee.
2. As already clarified by Mr. Anil Kaushik this is only amendment bill & therefore wait for some time.
With Regards,
R.N.Khola
From India, Delhi
1. Plz go through section 2(21) of the Payment of Bonus Act, 1961 for the definition of the wage or salary. In general we are to consider Basic & DA but where an employee is also given in lieu of the whole or part of salary or wage payable to him, free food allowance or free food by the employer, such food allowance or the value of such food, for the purposes of this clause, be deemed to form part of salary or wage of such employee.
2. As already clarified by Mr. Anil Kaushik this is only amendment bill & therefore wait for some time.
With Regards,
R.N.Khola
From India, Delhi
Re: Govt. proposal to increase bonus to 11%- Business Manager - HR Magazine update
Dear Anil,
Good to see the upcoming amendment under the Payment of bonus Act.
The Point 1 & 3 are excellent whereby the percentage of bonus Limit and the calculated amount has to be increased to 11% and Rs.5000/-per month respectively.
The Point 2 where the wage ceiling of coverable employee increase to 15000/- per month is not viable as the coverable employees will increase but most of the organisations paying ex-gratia to the employees who are not covered under the payment of bonus Act where the amount of ex-gratia is more than the statutory bonus amount. So the employees who were earlier not covering under the above act will now be covered under the Bonus act will lose the Ex- Gratia Amount that is paid by the organisations.
Regards
Himanshu Divecha
From India, Mumbai
Dear Anil,
Good to see the upcoming amendment under the Payment of bonus Act.
The Point 1 & 3 are excellent whereby the percentage of bonus Limit and the calculated amount has to be increased to 11% and Rs.5000/-per month respectively.
The Point 2 where the wage ceiling of coverable employee increase to 15000/- per month is not viable as the coverable employees will increase but most of the organisations paying ex-gratia to the employees who are not covered under the payment of bonus Act where the amount of ex-gratia is more than the statutory bonus amount. So the employees who were earlier not covering under the above act will now be covered under the Bonus act will lose the Ex- Gratia Amount that is paid by the organisations.
Regards
Himanshu Divecha
From India, Mumbai
Dear Anil
Exgratia is not a guarantee; it may either be paid or not paid by organisations. If it is bonus, it becomes statutory and is payable. Let the people be happy with the proposed new enactment.
K.Ramachandra
bangalore
Exgratia is not a guarantee; it may either be paid or not paid by organisations. If it is bonus, it becomes statutory and is payable. Let the people be happy with the proposed new enactment.
K.Ramachandra
bangalore
Dear Sir, Is there any changes in maximum limit of 20 % Kindly explore me and where we see the central govt gazettes...
From India, Pune
From India, Pune
Re: Govt. proposal to increase bonus to 11%- Business Manager Friends, The bill is yet to be passed. copy of introduced bill is enclosed. chandu1967
From India, Bangalore
From India, Bangalore
Dear All
As posted already a Bill when introduced in either of the Houses of Parliament has to be passed by both Houses then it is sent for Presidential assent and then it is notified in the Gazette for its coming into effect.In the meanwhile it can be referred to a Parliamentary Select Committee for its detailed consideration .It has to pass through these stages.Till it is notified the discussions can be academic.
With Regards
Advocates & Notaries & Legal Consultants[ for Staffing & Recruiting Industry
E-mail : rajanassociates@eth,net,
Mobile : 9025792684-9025792634
.
From India, Bangalore
As posted already a Bill when introduced in either of the Houses of Parliament has to be passed by both Houses then it is sent for Presidential assent and then it is notified in the Gazette for its coming into effect.In the meanwhile it can be referred to a Parliamentary Select Committee for its detailed consideration .It has to pass through these stages.Till it is notified the discussions can be academic.
With Regards
Advocates & Notaries & Legal Consultants[ for Staffing & Recruiting Industry
E-mail : rajanassociates@eth,net,
Mobile : 9025792684-9025792634
.
From India, Bangalore
if this proposal will pass then it will effect from financial year 2009-10 or 2010-11. if we adopt this proposal then all employees Monthly CTC will effect. regds Ravi Dixit
From India, New Delhi
From India, New Delhi
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